Black Friday

1. Any day of major financial chaos or disaster; refers specifically to September 24, 1869, when stock speculators attempting to corner US gold trade caused the entire market to crash. The extremely fast growth in Wall Street has some economists worried that another Black Friday might be ahead if such growth continues unchecked.2. The day after Thanksgiving in the US, on which extravagant sales create a frenzy of consumer activity in stores across the country. I hate working in retail on Black Friday—everyone acts like a crazy person!See also: black, Friday

Black Friday

1. Also Black Monday, Black Tuesday, etc. A day of economic catastrophe, as in We feared there'd be another Black Friday. This usage dates from September 24, 1869, a Friday when stock manipulators Jay Gould and James Fisk tried to corner the gold market and caused its collapse. The adjective black has been appended to similar occasions ever since, including October 29, 1929, the Tuesday of the market collapse that marked the start of the Great Depression, and Black Monday of October 19, 1987, when the stock market experienced its greatest fall since the Great Depression. 2. Any day marked by great confusion or activity, as in It was just my luck to be traveling on Black Tuesday. This usage, too, is based on the events of 1869, marked by economic chaos. It has since been extended to other kinds of confusion, such as an accident hampering traffic during the evening rush hour. See also: black, Friday

Black Friday

Black Friday,

Sept. 24, 1869, in U.S. history, day of financial panic. In 1869 a small group of American financial speculators, including Jay GouldGould, Jay,
1836–92, American speculator, b. Delaware co., N.Y. A country-store clerk and surveyor's assistant, he rose to control half the railroad mileage in the Southwest, New York City's elevated railroads, and the Western Union Telegraph Company.
..... Click the link for more information. and James FiskFisk, James,
1834–72, American financial speculator, b. Pownal, Vt. In his youth he worked for a circus and as a wagon peddler of merchandise. During the Civil War he became wealthy purchasing cotton in occupied areas of the South for Northern firms and selling Confederate
..... Click the link for more information. , sought the support of federal officials of the Grant administration in a drive to corner the gold market. The attempt failed when government gold was released for sale. The drive culminated on a Friday, when thousands were ruined—the day is popularly called Black Friday. There was great indignation against the perpetrators. Several other days of financial panic have also been occasionally referred to as Black Friday.

Black Friday

(Apr. 15, 1921), in Great Britain, the day that opportunist leaders of the “triple alliance” of miners, railway-men, and transport workers thwarted a sympathy strike planned by railwaymen and transport workers in support of miners locked out by the coal industry. A few hours before the strike was to take place, the union leaders canceled it against the wishes of the rank and file. Forced to strike alone, the miners were defeated. After Black Friday the bourgeoisie launched a broad frontal attack on the working people and nullified many of the victories that had been won during the upsurge in the class struggle between 1918 and 1921.

REFERENCES

Gurovich, P. V. Pod”em rabochego dvizheniia v Anglii v 1918–1921 gg. Moscow, 1956.

Black Friday

VariousBlack Friday usually refers either to the infamous Wall Street Panic of September 24, 1869, when Jay Gould and James Fisk tried to "corner" the gold market, or to September 19, 1873, when stock failures caused the Panic of 1873. In England, it is often used by workers to describe May 12, 1926, the day on which the General Strike was ended. It is occasionally used to refer to Good Friday.
Shoppers and retailers in the United States sometimes refer to the day after Thanksgiving as Black Friday because it marks the beginning of the Christmas commercial season and is traditionally a frenetic day of shopping.
SOURCES:
DictDays-1988, p. 12
(c)

Black Friday

day of financial panic (1869). [Am. Hist.: RHDC]See: Bankruptcy

Black Friday

(September 24, 1869) gold speculation led to financial panic. [Am. Hist.: Van Doren, 259]See: Conspiracy

Black Friday

A precipitous drop in a financial market . The original Black Friday occurred on September 24, 1869, when prospectors attempted to corner the gold market.

Black Friday

1. In the United States, the day after Thanksgiving. Black Friday is considered the first day of the Christmas shopping season each year. It is noted for discounts and special offers on retail goods. Some retailers open at midnight to create an air of importance for the day and thus maximize shopping hours. It is one of the busiest shopping days of the year.

2. In the United Kingdom, the last Friday before Christmas. It is the most common day for office Christmas parties and, as such, is one of the busiest days of the year for restaurants, pubs and catering companies.

3. September 24, 1869. On this day, the United States gold market fell precipitously following a price manipulation by James Fisk and Jay Gould. During the Civil War a few years before, American money was backed by the full faith and credit of the United States, but not by a commodity like gold or silver. Following the War, the federal government began buying back this currency with gold and then using the currency to redeem government bonds; this stabilized the currency but caused the price of gold to drop to its lowest level in years. Fisk and Gould took advantage of this and began buying gold, which caused the price to increase. In the process, they attempted to convince U.S. President Ulysses Grant to limit the release of gold, which drove the price even higher. The conspiracy came to a head on Black Friday when Treasury Secretary George Boutwell realized what was happening and released a large amount of government-owned gold. This caused the price to crash.

Black Friday

A widely used reference to September 24, 1869, the date on which stock market operator Jay Gould nearly cornered the gold market. Although eventually broken by government selling of the metal, the corner resulted in massive failures on Wall Street. Gould made considerable profits on the manipulation, but his brokers declared bankruptcy.